Đạo đứcCâu 292 / 400
Which of the following is a classic red flag for possible mortgage fraud on an application?
a.The borrower provides a clear, verifiable two-year employment history
b.A large, unexplained deposit appears in the borrower's account just before closing
c.The appraisal is supported by three recent comparable sales
d.The borrower's stated income matches verified W-2s
Giải thích
An undocumented, unexplained large deposit right before closing is a red flag because it may indicate an undisclosed loan or a gifted down payment being hidden. Verifiable employment, well-supported appraisals, and income that matches W-2s are signs of a clean file, not red flags.
Trích dẫn luật: Mortgage fraud red flagsLuyện miễn phí toàn bộ 400 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- A fraudster uses a stolen Social Security number and driver's license to apply for a mortgage in someone else's name without their knowledge. This type of fraud is:
- In a fraud-for-profit scheme involving inflated appraisals and quick resales (flipping), who is typically harmed?
- A family exaggerates their income slightly so they can qualify to buy a home they intend to live in. This is generally categorized as:
- A file shows the same phone number for the borrower, the seller, and the appraiser, and the sale price is far above the neighborhood. These facts most likely indicate:
- Which of the following is NOT a prohibited basis for discrimination under the Equal Credit Opportunity Act (ECOA)?
- A creditworthy single woman is told she must have a male cosigner even though her income and credit qualify her on her own. This most likely violates ECOA on the basis of:
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